Articles & Insights
Financial Post: Managing Wealth  |  09 July 2011

For rich even 70% might not be enough

A well-known financial planning rule of thumb asserts that individuals need about 70% of their employment income to retire comfortably. Affluent investors can toss that guideline into the wastebasket. Given that wealthy retiring couples tend to have distinctive goals, retirement costs among the affluent can vary markedly. In fact, one U.S. study of affluent retirees found that nearly 20% of the respondents spent more in retirement than when they were working. Read more >